What we saw yesterday was a bit of profit taking after the S & P posted an intraday gain over 5 days of 5.6%. We were a little overbought and the averages had extended themselves beyond their 200-day moving averages. We’re seeing a bit of a pullback to those levels. DuPont’s strong earnings numbers and revision to 2010 targets were enough to keep the Dow out of the red, but not the rest of the market. There were two consumer sensitive groups that posted reversals to the downside in the wake of the weaker than expected consumer confidence data, Homebuilders and Retailers. Both groups extended their short-term rallies into overhead resistance, and then slipped hard later in the day. Despite this weakness, it was offset by strength in Utilities, Banks, Household Products, and Technology Hardware. What’s clear is that there were no major leadership swings. The action was scattered among the groups, both up and down. Therefore, I would not take the action to indicate a top is starting to form just yet. Friday’s long list of economic data and several significant corporate earnings announcements this week could provide further upside potential. What we typically look for during earnings season are companies that report good numbers, but because it has already been discounted, sees it’s stock move lower. That did not happen with DuPont yesterday. Good earnings news is still good news for the stock. Until this changes, there is still hope for further upside action.